SummerHaven Investment Management LLC Has $720,000 Stock Position in Immersion Co. (NASDAQ:IMMR)

SummerHaven Investment Management LLC increased its holdings in Immersion Co. (NASDAQ:IMMR) by 1.6% during the fourth quarter, HoldingsChannel reports. The fund owned 101,922 shares of the software maker’s stock after acquiring an additional 1,605 shares during the quarter. SummerHaven Investment Management LLC’s holdings in Immersion were worth $720,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in IMMR. Copeland Capital Management LLC bought a new position in shares of Immersion in the third quarter valued at approximately $29,000. Quantbot Technologies LP bought a new position in Immersion during the 3rd quarter valued at $41,000. SG Americas Securities LLC purchased a new position in Immersion during the 3rd quarter worth $93,000. Brandywine Global Investment Management LLC bought a new stake in shares of Immersion in the 3rd quarter worth $98,000. Finally, Teza Capital Management LLC purchased a new stake in shares of Immersion in the third quarter valued at about $142,000. Institutional investors own 60.57% of the company’s stock.

Insider Activity at Immersion

In other news, Director Elias Nader sold 13,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $8.22, for a total value of $106,860.00. Following the sale, the director now owns 29,266 shares of the company’s stock, valued at $240,566.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 5.50% of the stock is currently owned by company insiders.

Immersion Stock Performance

Shares of NASDAQ:IMMR opened at $7.25 on Tuesday. The company has a market capitalization of $229.83 million, a P/E ratio of 7.04 and a beta of 1.49. The company’s 50-day moving average is $7.27 and its 200 day moving average is $6.95. Immersion Co. has a fifty-two week low of $5.94 and a fifty-two week high of $8.62.

Immersion (NASDAQ:IMMR) last released its earnings results on Thursday, March 7th. The software maker reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.30. Immersion had a net margin of 100.17% and a return on equity of 19.75%. The firm had revenue of $10.38 million during the quarter, compared to the consensus estimate of $9.25 million. As a group, research analysts predict that Immersion Co. will post 1.14 earnings per share for the current year.

Immersion Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Friday, April 12th were issued a $0.045 dividend. This represents a $0.18 annualized dividend and a yield of 2.48%. The ex-dividend date was Thursday, April 11th. Immersion’s dividend payout ratio (DPR) is currently 17.48%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on IMMR. BWS Financial reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Immersion in a research report on Thursday, April 18th. StockNews.com raised Immersion from a “hold” rating to a “buy” rating in a research report on Friday, March 8th.

About Immersion

Immersion Corporation, together with its subsidiaries, engages in the creation, design, development, and licensing of haptic technologies that allow people to use their sense of touch to engage with and experience various digital products in North America, Europe, and Asia. The company provides technology, patent, and combined licenses.